Sean Mason | November 13, 2015 |
SmallCapPower
Consolidation
in the oil patch made some shareholders happy Friday, while a tech stock lost
altitude on a stormy outlook. Here’s some small stocks making big moves on Friday,
November 13, 2015 (as of 4 pm EST):
Petroamerica Oil Corp. (TSXV:
PTA) shares surged 41% to $1.30 on volume of more than 6 million shares
Friday after the Colombia-focused oil and gas company announced that it has
agreed to be acquired by Gran Tierra
Energy Inc. (TSX:
GTE) in a cash-and-stock transaction. Petroamerica shareholders will
receive, at their election, either 0.40 of a Gran Tierra common share or C$1.33
in cash for each Petroamerica share, subject to a maximum of 70% of the
consideration payable in cash.
As well,
shares of GuestLogix Inc. (TSX:
GXI) plunged 54% to $0.215 as the provider of payment technology to
airlines and the passenger travel industry said its third-quarter net loss
widened to $5.3 million from $300,000 a year earlier, “materially driven by the
cost of restructuring efforts and lower revenues.” GuestLogix added that its
Board of Directors has initiated a review of strategic alternatives to enhance
shareholder value.
Badger Daylighting Ltd. (TSX:
BAD), meanwhile, reported a Q3 2015 net profit of $17.1 million, up from $16.1
million during the same period last year, as a result of what the Company called
continued growth in the United States. Badger Daylighting stock popped 27% to
$22.95 up following the announcement.
Finally, Input Capital Corp. (TSXV:
INP) shares sank 42% to $1.65 after the agriculture commodity streaming company
announced that it is taking steps to terminate three canola streaming contracts
in Saskatchewan and enforce the security granted in conjunction with these
contracts. As a result, Input will reduce the number of active streams in its
portfolio from 79 to 76 streams and is reducing guidance on the number of
projected canola streaming tonnes to be sold in FY2016 from 80,000 tonnes to
65,000 tonnes.
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